TransAlta Corporation (TransAlta) engages in the development, production and sale of electric energy.
The company is one of Canada’s largest publicly traded power generators, owning and operating a diverse fleet across Canada, the United States and Western Australia. The company’s portfolio includes hydro, wind, solar, battery storage, natural gas and coal, complemented by its exceptional asset optimization and energy marketing capabilities. As one of Canada’s largest producers of wind and ther...
TransAlta Corporation (TransAlta) engages in the development, production and sale of electric energy.
The company is one of Canada’s largest publicly traded power generators, owning and operating a diverse fleet across Canada, the United States and Western Australia. The company’s portfolio includes hydro, wind, solar, battery storage, natural gas and coal, complemented by its exceptional asset optimization and energy marketing capabilities. As one of Canada’s largest producers of wind and thermal generation and Alberta’s largest producer of hydro power, TransAlta remains committed to a balanced, technology-agnostic generation mix.
Segments
The company operates through the Generation and Energy Marketing segments.
Generation
Generation segments include Hydro, Wind and Solar, Gas, and Energy Transition. The company directly or indirectly owns and operates hydro, wind and solar and natural gas-fired facilities, along with a coal-fired facility and natural gas pipeline operations in Canada, the United States (U.S.) and Western Australia. Transmission in Canada and Western Australia is included within the Hydro and Gas segments in Canada and Western Australia. The Wind and Solar segment include its investment in SP Skookumchuck Investment, LLC (Skookumchuck). Segment revenues are derived from the availability and production of electricity and steam, as well as ancillary services.
Energy Marketing
The Energy Marketing segment derives revenue and earnings from the trading of electricity, natural gas and environmental products across a variety of North American markets, excluding Alberta.
Business of TransAlta
The company’s Hydro, Wind and Solar, Gas and Energy Transition segments are responsible for operating and maintaining its electrical generation facilities in Canada, the United States and Western Australia. The company’s Energy Marketing segment is responsible for marketing and scheduling its merchant asset fleet in North America (excluding Alberta) along with the procurement of natural gas, transport and storage for its gas fleet, providing knowledge to support its growth team, and generating a stand-alone gross margin separate from its asset business through a leading North American energy marketing platform and trading. These segments are all supported by a Corporate segment.
Hydro segment
The Hydro segment holds a net capacity interest of 922 MW of generating capacity. The facilities are located in Alberta, British Columbia, and Ontario.
As well as contracting for power, the company enters into long and short-term contracts to sell the environmental attributes from its merchant hydro facilities. These activities help to ensure earnings stability from these assets.
Bow River System
Barrier
Barrier is a hydroelectric facility with installed capacity of 13 MW located on the Kananaskis River near Seebe, Alberta. Commercial operations began in 1947. Generation from the facility is sold in the Alberta electricity market and creates Emission Performance Credits (EPCs) under the Alberta Technology Innovation and Emissions Reduction (TIER) system.
Bearspaw
Bearspaw is a hydroelectric facility with installed capacity of 17 MW located on the Bow River in Calgary, Alberta. Commercial operations began in 1954. Generation from the facility is sold in the Alberta electricity market and creates EPCs under the TIER system.
Cascade
Cascade is a hydroelectric facility with installed capacity of 36 MW located on the Cascade River in Banff National Park, Alberta. This facility was purchased from the Government of Canada in 1941. The following year, it builds a new dam and power plant to replace the original, and then, in 1957, added a second generating unit. Generation from the facility is sold in the Alberta electricity market and creates EPCs under the TIER system.
Ghost
Ghost is a hydroelectric facility with installed capacity of 54 MW located on the Bow River near Cochrane, Alberta. Commercial operations began in 1929. Generation from the facility is sold in the Alberta electricity market and creates EPCs under the TIER system.
Horseshoe
Horseshoe is a run-of-river hydroelectric facility with installed capacity of 14 MW located on the Bow River near Seebe, Alberta. Generation from the facility is sold in the Alberta electricity market and creates EPCs under the TIER system.
Interlakes
Interlakes is a hydroelectric facility with installed capacity of 5 MW located at Kananaskis Lakes, Alberta. Generation from the facility is sold in the Alberta electricity market and creates EPCs under the TIER system.
Kananaskis
Kananaskis is a run-of-river hydroelectric facility with installed capacity of 19 MW located on the Bow River in Seebe, Alberta. Generation from the facility is sold in the Alberta electricity market and creates EPCs under the TIER system.
Pocaterra
Pocaterra is a hydroelectric facility with installed capacity of 15 MW located at Kananaskis Lakes, Alberta. Generation from the facility is sold in the Alberta electricity market and creates EPCs under the TIER system.
Rundle
Rundle is a hydroelectric facility with installed capacity of 50 MW located in Canmore, Alberta, on the Spray system. Generation from the facility is sold in the Alberta electricity market and creates EPCs under the TIER system.
Spray
Spray is a hydroelectric facility with installed capacity of 112 MW located in Canmore, Alberta, on the Spray system. Generation from the facility is sold in the Alberta electricity market and creates EPCs under the TIER system.
Three Sisters
Three Sisters is a hydroelectric facility with installed capacity of 3 MW located at the base of the Three Sisters Dam near Canmore, Alberta, on the Spray system. Generation from the facility is sold in the Alberta electricity market.
Oldman River System
Belly River
Belly River is a run-of-river hydroelectric facility with installed capacity of 3 MW located on the Waterton-St. Mary Headworks Irrigation Canal System, east of the Waterton Reservoir, approximately 75 kilometres southwest of Lethbridge in southern Alberta. Due to its location along the irrigation canal, Belly River operates from April to October when water is diverted through the canal as part of the St. Mary Irrigation District Water Management Plan. Generation from the facility is sold in the Alberta electricity market.
St. Mary
St. Mary is a run-of-river hydroelectric facility with installed capacity of 2 MW located at the base of the dam impounding the St. Mary Reservoir, near Magrath, in southern Alberta. Generation from the facility is sold in the Alberta electricity market.
Taylor
Taylor is a run-of-river hydroelectric facility with installed capacity of 13 MW and is located adjacent to the Taylor Coulee Chute on the Waterton-St. Mary Headworks Irrigation Canal System, which is owned by the Government of Alberta. Generation from the facility is sold in the Alberta electricity market.
Waterton
Waterton is a run-of-river hydroelectric facility with installed capacity of 3 MW located at the base of the Waterton Dam on the Waterton Reservoir, near Hill Spring, southwest of Lethbridge, Alberta. Generation from the facility is sold in the Alberta electricity market.
North Saskatchewan River System
Bighorn
Bighorn is a hydroelectric facility with installed capacity of 120 MW located near Nordegg, Alberta. Generation from the facility is sold in the Alberta electricity market and creates EPCs under the TIER system.
Brazeau
Brazeau is a hydroelectric facility with installed capacity of 355 MW located near Drayton Valley, Alberta. Generation from the facility is sold in the Alberta electricity market and creates EPCs under the TIER system.
BC Hydro Facilities
Akolkolex
Akolkolex is a run-of-river hydroelectric facility with installed capacity of 10 MW and is located on the Akolkolex River, south of Revelstoke, British Columbia. The output from the facility is sold to British Columbia Hydro and Power Authority (BC Hydro) under a PPA that terminates in 2046.
Bone Creek
Bone Creek is a run-of-river hydroelectric facility with installed capacity of 19 MW and is located on Bone Creek, 90 kilometres south of Valemount, British Columbia. The output from the facility is sold to BC Hydro under a PPA that terminates in 2031.
Pingston
Pingston is a run-of-river hydroelectric facility with installed capacity of 45 MW and is located on Pingston Creek, southwest of Revelstoke, British Columbia, and downriver of the Akolkolex facility. Pingston is equally owned with Evolugen Trading and Marketing LP, a subsidiary of Brookfield. The output from the facility is sold to BC Hydro under a recontracted 20-year PPA that expires on May 8, 2043.
Upper Mamquam
Upper Mamquam is a run-of-river hydroelectric facility with installed capacity of 25 MW located on the Mamquam River, east of Squamish, British Columbia, and north of Vancouver. The output from the facility is sold to BC Hydro under a PPA that terminates in 2045.
Ontario Hydro Facilities
Misema
Misema is a run-of-river hydroelectric facility with installed capacity of 3 MW located on the Misema River, close to Englehart, in northern Ontario. Generation from this facility is sold to the IESO under a contract that terminates on May 3, 2027.
Moose Rapids
Moose Rapids is a run-of-river hydroelectric facility with installed capacity of 1 MW located on the Wanapitei River, near Sudbury, in northern Ontario. Generation from this facility is sold to the IESO under a contract that terminates on Dec. 31, 2030.
Ragged Chute
Ragged Chute is a run-of-river hydroelectric facility with installed capacity of 7 MW located on the Montreal River, south of Temiskaming Shores, in northern Ontario. The company leases this facility from Ontario Power Generation Inc. (OPG). Generation from this facility is sold to the IESO under a contract that terminates on June 30, 2029.
Wind and Solar Segment
As of Dec. 31, 2024, the Wind and Solar segment held interests in approximately 2,559 MW of net wind and solar generating capacity. This capacity consists of 12 wind facilities in Western Canada, four in Ontario, two in Quebec, three in New Brunswick and eight in the United States, more specifically in Washington, Wyoming, Minnesota, Oklahoma, Pennsylvania and New Hampshire. The company also holds a 10 MW utility-scale battery energy storage system in Alberta, 143 MW of solar facilities in Massachusetts and North Carolina, and a 38 MW solar facility and a 10 MW battery energy storage system in Western Australia.
In addition to contracting for the sale of the power generation, the company enters into long- and short-term contracts to sell the environmental and tax attributes from the merchant wind and solar facilities. These activities help to ensure earnings consistency from these assets.
Alberta Wind Facilities
Ardenville
Ardenville is a 69 MW wind facility located approximately 14 kilometres south of Fort Macleod. The facility began commercial operations in November 2010. It satisfies the eligibility criteria for an opted-in facility under Section 4 of the TIER regulation and is voluntarily choosing to participate in the regulation for the purposes of being able to generate emission performance credits (opt-in facility). An opt-in facility is not considered a large emitter of greenhouse gases (GHG) and as such it elected to participate in TIER. Generation from the facility is sold in the Alberta electricity market.
Blue Trail and Macleod Flats
Blue Trail is a 66 MW wind facility located in southern Alberta. The Blue Trail wind facility created carbon offset credits under TIER until Sept. 16, 2022, at which time the facility became an opt-in facility under TIER.
Macleod Flats is a 3 MW wind facility located near Fort Macleod. It was commissioned in 2004 and was acquired by TransAlta in 2009. This facility generates Renewable Energy Certificate (REC) credits. Generation from the facilities is sold in the Alberta electricity market.
Castle River
Castle River is a 39.5 MW wind facility located southwest of Pincher Creek. This facility also includes an additional six turbines, totaling 4 MW that are located individually in the Cardston County and Hill Spring areas of southwestern Alberta. The facility began commercial operations in stages from November 1997 through to July 2001. This facility generates EPCs under the TIER system. Generation from the facility is sold in the Alberta electricity market.
Cowley North
Cowley North is a 19.5 MW wind facility located near the towns of Cowley and Pincher Creek, in southern Alberta. The facility began commercial operations in the fall of 2001. The Cowley North facility creates EPCs under the TIER system. Generation from the facility is sold in the Alberta electricity market.
Garden Plain
Garden Plain is a 130 MW wind facility located approximately 30 kilometers north of Hanna. This facility began commercial operations in August 2023. The facility is fully contracted with 100 MW being sold under a PPA with Pembina that terminates in 2041, and the remaining 30 MW of generation being contracted to PepsiCo under a PPA and terminates in 2035.
McBride Lake
McBride Lake is a 75.2 MW wind facility located south of Fort Macleod. The McBride Lake facility is co-owned with ENMAX Generation Portfolio Inc. The facility began commercial operations on April 30, 2004. A 20-year PPA with ENMAX Energy Corporation terminated on April 30, 2024, and generation from the facility is sold in the Alberta electricity market.
Oldman
Oldman is a 3.6 MW wind facility located east of the Oldman River Dam, near Pincher Creek in southern Alberta. In 2021, TransAlta acquired 100 per cent of the facility from a subsidiary of Boralex. This facility sells energy into the Alberta electricity market.
Sinnott
Sinnott is a 5 MW wind facility located directly east of the Cowley North wind facility and north of Pincher Creek. The facility began commercial operations in the fall of 2001. The facility sells energy into the Alberta electricity market and generates EPCs under the TIER system.
Soderglen
Soderglen is a 71 MW wind facility located southwest of Fort Macleod. The facility is co-owned with CNOOC Petroleum North America ULC. The facility began commercial operations in September 2006. The Soderglen wind facility creates EPCs under the TIER system, of which TransAlta receives 25 per cent. The company is entitled to 50 per cent of the generation that is sold into the Alberta electricity market.
Summerview 1
Summerview 1 is a 68 MW wind facility located approximately 15 kilometres northeast of Pincher Creek. The facility began commercial operations in September 2004. The facility sells energy into the Alberta electricity market and generates EPCs under the TIER system.
Summerview 2
Summerview 2 is a 66 MW wind facility located approximately 15 kilometres northeast of Pincher Creek. The facility began commercial operations in February 2010. The facility sells energy into the Alberta electricity market and generated carbon offset credits under TIER until November 2022, after which it became an opt-in facility under TIER.
Windrise
Windrise is a 206 MW wind facility located in the county of Willow Creek. The facility began commercial operations in November 2021. Generation from the facility is sold to the AESO under a 20-year PPA that expires in 2041.
Alberta Battery Energy Storage
WindCharger
WindCharger is Alberta's first utility-scale battery storage facility. The facility consists of a lithium-ion battery using Tesla Megapack technology that has a nameplate capacity of 10 MW and a total storage capacity of 20 MWh. WindCharger is located in southern Alberta in the Municipal District of Pincher Creek, next to the Summerview wind facility substation. The storage project achieved commercial operations on Oct. 15, 2020. WindCharger stores energy produced by the nearby Summerview 2 wind facility and discharges this energy for ancillary services. The facility is an opt-in facility under TIER.
Eastern Canada Wind Facilities
Kent Breeze
Kent Breeze is a 20 MW wind facility located in Thamesville, Ontario. The facility began commercial operations in 2011. Generation from this facility is sold to the IESO under a 20-year PPA that expires in 2031.
Kent Hills 1
Kent Hills 1 is a 96 MW wind facility located near Moncton, New Brunswick. The facility began commercial operations in December 2008. The company owns 83 per cent of the facility and Natural Forces Technologies Inc., a wind developer based in Atlantic Canada that co-developed the project with TransAlta, owns 17 per cent. Generation from this facility is sold under a PPA with NB Power that expires in 2045.
Kent Hills 2
Kent Hills 2 is a 54 MW wind facility located near Moncton, New Brunswick. The facility began commercial operations in November 2010. The company owns 83 per cent of the facility and Natural Forces Technologies Inc., a wind developer based in Atlantic Canada that co-developed the project with TransAlta, owns 17 per cent. On June 2, 2022, the company announced the extension of the previous 2035 PPA term for an additional 10-year period through to December 2045.
Kent Hills 3
Kent Hills 3 is a 17.25 MW wind facility located near Moncton, New Brunswick. The facility began commercial operations in November 2018. The company owns 83 per cent of the facility and Natural Forces Technologies Inc., a wind developer based in Atlantic Canada that co-developed the project with TransAlta, owns 17 per cent. On June 2, 2022, the company announced the extension of the previous 2035 PPA term for an additional 10-year period through to December 2045.
Le Nordais
Le Nordais is a 97.5 MW wind facility located on the Gaspe Peninsula of Quebec. The facility has two sites, Cap-Chat with 74 turbines and Matane with 56 turbines. The facility began commercial operations in 1999. Generation from this facility is sold to Hydro-Quebec pursuant to an energy supply agreement that terminates in 2033, and the facility generates RECs.
Melancthon 1
Melancthon 1 is a 67.5 MW wind facility located in Melancthon Township near Shelburne, Ontario. The facility began commercial operations in March 2006. Generation from this facility is sold to the IESO pursuant to a PPA that expires in 2026; a new Medium-Term 1 (MT1) capacity contract with the IESO will begin on May 1, 2026, and terminate on April 30, 2031. The company submitted a binding offer in January 2025 to participate in the 5-year Medium-Term 2 Energy Contract (MT2(e)), which will be awarded by April 1, 2025. If successful, this energy contract will replace the MT1 and be effective May 1, 2026, to April 30, 2031.
Melancthon 2
Melancthon 2 is a 132 MW wind facility located adjacent to Melancthon 1, in the Melancthon and Amaranth townships, Ontario. The facility began commercial operations in November 2008. Generation from this facility is sold to the IESO pursuant to a PPA that terminates in 2028. The company submitted a binding offer in January 2025 to participate in the 5-year MT2(e), which will be awarded by April 1, 2025. If successful, the power purchase agreement (PPA) will extend to April 30, 2029, and the MT2(e) will be effective May 1, 2029, to April 30, 2034.
New Richmond
New Richmond is a 68 MW wind facility located in New Richmond, Quebec. The facility began commercial operations in March 2013. Generation from this facility is sold under a 20-year electricity supply agreement with Hydro-Quebec Distribution that terminates in 2033.
Wolfe Island
Wolfe Island is a 197.8 MW wind facility located on Wolfe Island, near Kingston, Ontario. The facility began commercial operations in June 2009. Generation from this facility is sold to the IESO pursuant to a PPA that terminates in 2029. The company submitted a binding offer in January 2025 to participate in the 5-year MT2(e), which will be awarded by April 1, 2025. If successful, the PPA will terminate early and the MT2(e) will be effective May 1, 2029, to April 30, 2034.
U.S. Wind and Solar Facilities
Antrim
Antrim is a 28.8 MW wind facility located in Antrim, New Hampshire. The wind facility is fully operational and contracted under two long-term PPAs until 2039 with Partners Healthcare and New Hampshire Electric. Ninety-nine per cent of production tax credits are allocated to tax equity partners and the remainder is allocated to TransAlta.
Big Level
Big Level is a 90 MW wind facility located in Potter County, Pennsylvania. Generation from the facility is sold under a PPA with Microsoft that terminates in 2034. Ninety-nine per cent of production tax credits are allocated to tax equity partners and the remainder is allocated to TransAlta.
Horizon Hill
Horizon Hill is a 202 MW wind facility located in Logan County, Oklahoma. 100 per cent of the generation offtake from the project is sold to Meta, under a long-term PPA. Under the PPA, Meta receives both renewable electricity and environmental attributes. The Horizon Hill facilities achieved commercial operation on May 21, 2024. The company has entered into two 10-year transfer agreements with A+ and AA- rated customers for the sale of 100 per cent of the expected production tax credits to be generated from the Horizon Hill, White Rock East, and White Rock West facilities.
Lakeswind
Lakeswind is a 50 MW wind facility located near Rollag, Minnesota, and is fully operational and contracted under a long-term PPA until 2034 with several high-quality counterparties. Ninety-nine per cent of production tax credits are allocated to tax equity partners and the remainder is allocated to TransAlta.
Mass Solar
Mass Solar is a 21 MW solar portfolio consisting of multiple sites located in Massachusetts and is contracted under long-term PPAs expiring between 2032 and 2045 with several high-quality counterparties.
North Carolina Solar
North Carolina Solar is a 122 MW solar portfolio consisting of 20 sites located in North Carolina. The facilities were commissioned between November 2019 and May 2021. The facilities are secured by long-term PPAs with two subsidiaries of Duke Energy and are automatically extended unless terminated by either party.
Skookumchuck
Skookumchuck is a 137 MW wind facility that located in Lewis and Thurston counties, Washington. The facility began commercial operations in November 2020 and is secured by a long-term PPA with Puget Sound Energy Inc. that expires in 2040. Ninety-nine per cent of production tax credits are allocated to tax equity partners and the remainder are allocated to the company and its partner Southern Power Company.
White Rock East and White Rock West
White Rock East and White Rock West are 201.5 MW, and 99.5 MW wind facilities located in Caddo County, Oklahoma. On Dec. 22, 2021, TransAlta executed two long-term Power PPAs with Amazon for the offtake of 100 per cent of the generation from both facilities. White Rock West achieved commercial operation on Jan. 1, 2024, and White Rock East achieved commercial operation on April 22, 2024. The company has entered into two 10-year transfer agreements with A+ and AA- rated customers for the sale of 100 per cent of the expected production tax credits to be generated from the Horizon Hill, White Rock East, and White Rock West facilities.
Wyoming
Wyoming is a 140 MW wind facility located near Evanston, Wyoming. The facility began commercial operations in December 2003 and is contracted under a long-term PPA until 2028 with an investment-grade counterparty.
Australia Battery and Solar Facilities
Northern Goldfields Solar
Northern Goldfields Solar facilities consist of the 27 MW Mount Keith solar facility, 11 MW Leinster solar facility, 10 MW/5 MWh Leinster battery energy storage system facility and interconnecting transmission infrastructure, all of which are integrated into the existing Southern Cross Energy North remote electrical network in Western Australia. The combined solar and energy storage facilities began commercial operations in November 2023 and is contracted with BHP to 2038.
Gas Segment
The Gas segment holds a net capacity ownership interest of 4,525 MW. The facilities are located in Alberta, Ontario, Michigan and Western Australia.
British Columbia Gas Facilities
McMahon
The McMahon natural-gas-fired cogeneration facility is located in Taylor. The 120 MW McMahon facility is fully contracted with Brookfield and NorthRiver Midstream for steam and BC Hydro for electricity through to 2029.
Alberta Gas Facilities
Battle River 4 and 5
The Battle River 4 and 5 facilities are located near Forestburg. Battle River 4 and 5 are 155 MW and 395 MW, respectively, having completed their conversion to natural gas in 2021 and 2019, respectively. The end of regulatory life for Battle River 4 and 5 is set for 2033 and 2037, respectively. Generation from the facilities is sold in the Alberta electricity market.
Fort Saskatchewan
The company has a net ownership interest of 30 per cent in the Fort Saskatchewan facility. The 118 MW natural-gas-fired combined-cycle cogeneration facility is owned by TA Cogen and Prairie Boys Capital Corporation. The contract at the facility has an initial 10-year term, which began on Jan. 1, 2020, with the option for two five-year extensions. Generation from the facility is sold in the Alberta electricity market.
Joffre
The Joffre natural-gas-fired cogeneration facility is located in Red Deer. TransAlta owns a 40 per cent interest in the facility, with Capital Power and Nova Chemicals owning 40 per cent and 20 per cent, respectively. The 474 MW Joffre facility has been in operation since 2000 and is 26 per cent (122 MW) contracted to Nova Chemicals through to 2041. The remaining uncontracted electricity capacity is sold in the Alberta energy market.
Keephills 2
The Keephills 2 facility is located approximately 70 kilometres west of Edmonton. Keephills 2 is a 395 MW gas-fired unit that completed its conversion to natural gas in 2021. The end of regulatory life for this unit is set for 2037. Generation from the facility is sold in the Alberta electricity market.
Keephills 3
The Keephills 3 facility is located approximately 70 kilometres west of Edmonton. Keephills 3 is a 466 MW gas-fired unit that completed its conversion to natural gas in 2021. The end of regulatory life for this unit is set for 2039. Generation from the facility is sold in the Alberta electricity market.
Muskeg River
The Muskeg River natural-gas-fired cogeneration facility is located in Fort McMurray. The 202 MW Muskeg River facility has been in operation since 2003 and is fully contracted to the Athabasca Oil Sands Project, which consists of Canadian Natural Resources Limited (CNRL), Chevron and Shell, through to 2042.
Poplar Creek
The Poplar Creek natural-gas-fired cogeneration facility is located in Fort McMurray. The Poplar Creek cogeneration facility had been built and contracted to provide steam and electricity to Suncor's oil sands operations. In 2015, Suncor acquired the company's two steam turbines with an installed capacity of 126 MW and certain transmission interconnection assets. In addition, Suncor assumed full operational control of the cogeneration facility and has the right to use the full 230 MW capacity of the company's gas generators until Dec. 31, 2030. The ownership of the Poplar Creek facility will transfer to Suncor on Dec. 31, 2030.
Primrose
The Primrose natural-gas-fired cogeneration facility is located near Bonnyville. TransAlta owns a 50 per cent interest with CNRL owning the remaining 50 per cent of the facility. The 100 MW Primrose facility has been in operation since 1998 and is fully contracted to CNRL through to 2028, at which time, will be transferred to CNRL at the expiry of the PPA with no remaining liabilities for TransAlta.
Scotford
The Scotford natural-gas-fired cogeneration facility is located in northeast of Fort Saskatchewan. The 195 MW Scotford facility has been in operation since 2003, and is fully contracted to CNRL, Chevron and Shell through to 2043.
Sheerness 1 and 2
The Sheerness 1 and 2 facilities are located approximately 200 kilometres northeast of Calgary. The 400 MW Sheerness 1 and 400 MW Sheerness 2 facilities are gas-fired units that completed their conversion to natural gas in 2021 and 2020, respectively. The end of regulatory life for these units is set for 2037. Generation from the facilities is sold in the Alberta electricity market.
Sundance 6
The Sundance 6 facility is located approximately 70 kilometres west of Edmonton. Sundance 6 is a 401 MW gas-fired unit that completed its conversion to natural gas in 2021. The end of regulatory life for this unit is set for 2037. Generation from the facility is sold in the Alberta electricity market. In November of 2024, the company announced that the unit will be mothballed at the end of the first quarter of 2025.
Valleyview 1 and 2
The Valleyview 1 and 2 natural-gas-fired simple-cycle gas turbine generator facilities are located in Valleyview. The 50 MW Valleyview 1 and 50 MW Valleyview 2 facilities have been in operation since 2001 and 2008, respectively. Generation from the facilities is sold in the Alberta electricity market.
Off-Coal Agreement
On Nov. 24, 2016, the company entered into the Off-Coal Agreement with the Government of Alberta pertaining to its cessation of emissions from the Keephills 3 and Sheerness coal-fired facilities.
Eastern Canada and U.S. Gas Facilities
Ada
Ada is a 29 MW contracted cogeneration facility located in Ada, Michigan. The facility has been in operation since 1991 and produces approximately 18,000 tonnes of steam hourly. The electricity and steam output of the facility are fully contracted until 2026 with Consumers Energy and Amway.
Ottawa
The Ottawa facility is owned by TA Cogen. It is a 74 MW combined-cycle cogeneration facility located in Ottawa, Ontario. On Aug. 30, 2013, the company announced the recontracting of the facility with the IESO for a 20-year term, effective January 2014. The Ottawa facility also provides thermal energy to the member hospitals and treatment centres of the Ottawa Health Sciences Centre and the National Defence Medical Centre. The thermal energy contract with the Ottawa Health Sciences Centre has a term to Dec. 31, 2033, with an automatic renewal of a five-year term unless terminated by either party.
Sarnia
The Sarnia cogeneration facility is a 499 MW combined-cycle cogeneration facility located in Sarnia, Ontario, that provides power and/or steam to nearby industrial facilities. The facility also provides electricity to the IESO under a contract that terminates on April 30, 2031, with the industrial customer contract terminations occurring from April 30, 2031, through Dec. 31, 2032.
Windsor
The Windsor facility is owned by TA Cogen. It is a 72 MW combined-cycle cogeneration facility located in Windsor, Ontario. Effective Dec. 1, 2016, the Windsor facility began operating under an agreement with the IESO with a 15-year term for up to 72 MW of capacity. The Windsor facility also provides thermal energy to Stellantis Canada (formerly, FCA Canada, Inc. and Chrysler Canada) in Windsor under a contract that expires in 2028, with a series of six successive renewal terms of one year each.
Australian Gas Facilities
Fortescue River Gas Pipeline
In 2014, the company established the Fortescue River Gas Pipeline joint venture with AGI Fortescue River Pty Limited. The joint venture (of which TransAlta is a 43 per cent partner) was successfully awarded the contract to design, build, own and operate the 270-kilometre Fortescue River Gas Pipeline, located in the Pilbara region of Western Australia, to deliver natural gas to Fortescue Metal Group's (FMG) Solomon facility. The pipeline was completed in the first quarter of 2015 and operates under a take-or-pay natural gas transport agreement with a subsidiary of FMG for an initial term of 20 years. The 16-inch diameter pipeline has an initial free-flow capacity of 64 terajoules per day. Under the gas tariff agreement, FMG has the option to purchase the Fortescue River Gas Pipeline commencing March 2020. FMG maintains its option and the joint venture continues to deliver natural gas to the Solomon facility.
Parkeston
The Parkeston facility is a 110 MW dual-fuel natural gas- and diesel-fired power station located near Kalgoorlie, Western Australia, which is owned in partnership through a 50/50 joint venture with Northern Star (NPK) Pty Ltd., a subsidiary of Northern Star Resources Limited. The Parkeston facility primarily supplies energy to Kalgoorlie Consolidated Gold Mines pursuant to a supply contract that extends to October 2027. Any merchant capacity and energy are sold in Western Australia's wholesale electricity market.
South Hedland
The South Hedland Power Station is a 150 MW combined-cycle power station located near South Hedland, Western Australia, which achieved commercial operation in 2017. The facility is contracted with two customers. Horizon Power, the state-owned electricity supplier in the region has contracted 110MW until 2042. The second customer is the port operations of FMG for 35 MW of capacity until 2037.
Southern Cross Energy
Southern Cross Energy Partnership (SCE) has power stations at Mount Keith, Leinster, Kalgoorlie and Kambalda. In total, a combined gas- and diesel-fired capacity of 245 MW is available from these facilities. In 2023, SCE added battery and renewable energy capacity to the SCE fleet with separate solar facilities at Leinster (11 MW) and Mount Keith (27 MW), as well as a battery energy storage system at Leinster (10 MW/5 MWh). SCE also completed the expansion of the Mount Keith 132kV transmission system to support BHP's Northern Goldfields-based operations in the first quarter of 2024.
The PPA with BHP for the facilities expires on Dec. 31, 2038. The PPA provides, among other things, SCE with the exclusive right to supply electricity, transmission, and distribution infrastructure for BHP's mining operations located within a specified area in the Goldfields region of Western Australia for the duration of the PPA.
Energy Transition Segment
The Energy Transition segment holds a net ownership interest in 671 MW of generating capacity. The two facilities are located in the United States.
Centralia
The Centralia coal-fired facility is located in Centralia, Washington, and consists of one 670 MW unit. On July 25, 2012, the company announced that it entered into an 11-year PPA to provide electricity from the Centralia thermal facility to Puget Sound Energy. The contract terminates on Dec. 31, 2025, when the facility is scheduled to stop burning coal. Under the agreement, Puget Sound Energy purchases 380 MW of baseload power to December 2024 and 300 MW in 2025. The coal used to fuel the Centralia facility is sourced from the Powder River Basin in Montana and Wyoming. The Centralia facility has coal contracts in place that expire at the end of 2025.
The company sells electricity from the Centralia thermal facility into the Western Electricity Coordinating Council and to the U.S. Pacific Northwest electricity market.
Skookumchuck Hydro
The company owns a 1 MW hydroelectric generating facility that is located on the Skookumchuck River near Centralia, Washington, and related assets that are used to provide water supply to its generation facilities in Centralia. In 2020, the company entered into a PPA with Puget Sound Energy for the Skookumchuck hydro facility. The contract terminates in 2025 when the facility is scheduled to retire.
Reclamation Activities
Centralia Mine
The company owns a coal mine adjacent to the Centralia facility, although mining operations were discontinued at the Centralia coal mine in 2006. The mine is in the reclamation phase, and it continues to perform reclamation and associated work.
Under the U.S. Federal Mine Safety and Health Act, the company must report all citations at its Centralia mine. There was one injury incident reported at the mine during 2024.
Highvale Mine
The company owns the Highvale mine that supplied coal to the previously coal-fired Sundance and Keephills facilities. The company discontinued all mining operations at the Highvale mine at the end of 2021 and the mine is in the reclamation phase as of Jan 1, 2022.
Coal Retirements
In aggregate, TransAlta has retired 4,464 MW of coal-fired generation capacity since 2018 while converting 1,659 MW to cleaner-burning natural gas. The following seven units have been retired: Centralia Thermal No. 1, Keephills 1, and Sundance 1, 2, 3, 4 and 5. The retirements remain consistent with the company’s strategy to transition to clean electricity. Pursuant to the Bill, Centralia Unit 2 will cease operation on coal effective Dec. 31, 2025.
Energy Marketing segment
Energy Marketing segment provides a number of strategic functions, including the following:
Gathering and analyzing market trends to enable more effective strategic planning and decision-making;
Actively engaging in the trading of power, natural gas and environmental products across a variety of North American markets, excluding Alberta;
Negotiating and managing fuel supply arrangements with third parties for its generation assets, including scheduling, billing and settlement of physical deliveries of natural gas and other fuels; and
Negotiating and entering into contractual agreements with customers for the sale of output from the company’s generation assets outside of Alberta, including electricity, steam or other energy-related commodities.
The Energy Marketing segment derives all of its revenue by trading electricity and other energy commodities (i.e., fuels and environmental products), by providing fee-based asset management services to third parties and earning margins on third-party gas and power transactions. The origination and trading activities are primarily focused on proprietary trading, with additional focus on the existing assets and customers of the company.
Non-Controlling Interests
The company’s operations in which it has non-controlling interests are as follows:
TA Cogen
The company holds a 50.01 per cent limited partnership interest in TA Cogen, which is an Ontario limited partnership. The remaining 49.99 per cent is held by CPH Cogen Inc., a subsidiary of CK Infrastructure Holdings Limited.
TA Cogen holds a 50 per cent interest in the 800 MW Sheerness dual-fuel generating facility in Alberta and a 60 per cent interest in the 118 MW Fort Saskatchewan natural-gas-fired cogeneration facility in Alberta. TA Cogen also holds an interest in two natural-gas-fired cogeneration facilities located in Ontario: the 74 MW Ottawa plant and the 72 MW Windsor plant.
Kent Hills Wind LP
The company holds an 83 per cent partnership interest in Kent Hills Wind LP, which owns and operates the 167 MW Kent Hills (1, 2 and 3) wind facilities located in New Brunswick. The remaining 17 per cent is held by Natural Forces Technologies Inc., a wind developer based in Atlantic Canada that helped develop the Kent Hills wind projects with TransAlta.
Acquisitions
Acquisition of Heartland Generation
On Dec. 4, 2024, the company acquired all issued and outstanding common shares of Heartland Generation Ltd. and Alberta Power (2000) Ltd. (collectively, Heartland) from Energy Capital Partners (ECP) (the Acquisition).
Heartland owns and operates generation assets consisting of 507 MW of cogeneration, 387 MW of contracted and merchant peaking generation, 950 MW of natural gas-fired thermal generation, transmission capacity and a development pipeline that includes the 400 MW Battle River Carbon Hub.
History
TransAlta Corporation was founded in 1909. The company was incorporated in 1985.
